Listed Rizal Commercial Banking Corp. (RCBC) has raised $300 million in fresh funds from its issuance of capital securities. In a statement on Monday, the Yuchengco-led lender announced the additional tier 1 (AT1) securities was priced at 6.5 percent, 25 basis points tighter than the initial price guidance. By investor type, asset managers were allocated 59 percent; hedge funds, 17 percent; and private banks, 24 percent. “The successful AT1 offering also reopens the US dollar AT1 bond market of Southeast Asia after the most recent issuance in February 2020,” RCBC added. Credit Suisse acted as the sole global coordinator and sole bookrunner for the transaction.

Source: Manila Times August 24, 2020 16:30 UTC